To be fair, it is a pretty big deal.
Although this is only the fifth year of the event, BMW's M Festival is already one of the bigger automotive events in Germany. All the more remarkable when you consider that it includes only BMW's M cars, and isn't just for the marque in general. Of course, it is the M buyers who are the most hardcore fans, as you'll see in this video promoting the event, which will take place at the Nurburgring from May 15th to May 17th.
Tickets to the event are actually pretty reasonable, considering they include track time and accommodations. They come in at 450 euros ($475 as of this writing), although transportation could add quite a bit.